Consolidation in the liquid biopsy market is continuing with NeoGenomics plan to acquire Inviata for about $390 million.
The acquisition follows a $25 million minority equity investment by Cambridge, U.K.-based NeoGenomics in Inivata in May 2020. It was at this time NeoGenomics was granted a fixed price option to purchase the remainder of Research Triangle Park, N.C.-based Inivata for $390 million.
Inivata, with its leading liquid biopsy technology platform, will remain a separate business division alongside NeoGenomics’ growing clinical, pharma and informatics divisions. Current Inivata CEO Clive Morris will become the President of Inivata and will report to Mark Mallon, CEO of NeoGenomics.
“Joining the NeoGenomics Group provides Inivata with an excellent foundation to support our growth ambitions,” Morris said in a release. “Our two organizations have highly complementary capabilities, and we are excited to combine with NeoGenomics following a successful year of working together. By leveraging our combined resources, we expect to accelerate the development of our promising RaDaR minimal residual disease assay and bolster commercialization efforts with biopharma before driving a successful launch into the clinical setting.”
There have been some high-profile mergers and acquisitions in the liquid biopsy space lately, which includes Thrive Earlier Detection Group being acquired by Exact Sciences for $2.15 billion.